ARE WE REALLY ALL IN THIS TOGETHER ?

 It was easy ( and still is ) for the kkkanadian ruling class to tap into the patriotic feelings of the people when they convinced everyone that we were all under attack . The truth is that the richest assholes in the country stand to make a lot of money from this misguided patriotism , and that is their real allegiance . Money . Not you , not me , but profits , and the people can go to hell . The oil companies in particular are making the biggest profits .

The Canadian oil and gas industry is making an extra $170 million in profits every day due to the U.S. and Israeli war in Iran, which has driven up global oil prices by more than 50 per cent.

In the first month of the war, the Canadian oil industry made after-tax profits in excess of $6 billion dollars, which is $4 billion more than it pocketed the month before. If oil prices stay this high for 12 months, the industry is on track for $90 billion in profits, which is $60 billion more than it would have earned without the war.

These rough estimates, which are based on our own economic modeling of the oil industry, hinge on two big questions: How high will oil prices go? And how long will they stay high?

Despite the periodic assurances of the U.S. administration, there is little indication that the conflict in Iran will resolve either quickly or smoothly. To better understand the potential impacts of different oil prices on industry profits, we have developed one baseline scenario and two forward-looking scenarios.

First is the Pre-War Baseline, which is based on data from the six months leading up to the war, including an average oil price of US$65 per barrel (Brent crude, converted to a West Texas Intermediate price of CAD$84). Second is a Current Price Scenario, which assumes the average oil price over the past two weeks of US$105 (CAD$139) per barrel continues to hold for the next 12 months. Third is an Escalating Crisis Scenario, wherein oil prices rise to US$130 (CAD$171) per barrel—a doubling of pre-war levels, which is a similar trajectory to the 1979 oil shock. For each scenario, we estimate revenues, expenses (including royalties and taxes) and profits for the Canadian oil industry.

The difference between the baseline and current price scenarios represents the trajectory we are on right now. As noted above, it amounts to a potential $60 billion in excess profits for the Canadian oil industry over the next 12 months. The gap between the baseline and escalating crisis scenarios—a potential situation where prices go even higher than they are today—amounts to $100 billion in excess profits for the industry. In either case, those windfalls are piled on top of the $30 billion in profits the Canadian oil industry was already expected to rake in over the next 12 months.